Q2 2025 revenue $214.8M, sequential decline 0.2%, within guidance of –5% to +3% (prepared).
Q2 gross margin 31.2%, above guidance of ~31%, vs 30.5% prior quarter; driven by favorable product mix (prepared).
Large display drivers $24.9M (11.6% of revenue), decline 0.6% QoQ; TV IC outperformed with single-digit sequential growth (prepared).
Small & medium display drivers $144.5M (67.3% of revenue), decline 4.0% QoQ; automotive driver outperformed mid-teens decline guidance, posting single-digit decline (prepared).
Non-driver sales $45.0M (21.1% of revenue), +14.7% QoQ; driven by automotive & monitor Tcon; Tcon >12% of total sales (prepared).
Automotive business (DDIC, TDDI, Tcon, OLED) ~50% of total Q2 revenue; H1 2025 automotive driver sales +3.2% YoY (prepared).
Operating expenses $48.9M, +6.9% QoQ, +3.3% YoY; NT dollar appreciation key factor; excluding FX, flat YoY (prepared).
Operating income $18.1M (8.4% margin) vs 9.2% prior Q, 12.2% prior year; operating profit –8.6% QoQ, –38.1% YoY (prepared).
After-tax profit $16.5M / $0.095 per diluted ADS (guidance $0.085–$0.115) vs $20.0M / $0.14 prior Q, $29.6M / $0.59 prior year (prepared).
CapEx $4.6M in Q2, vs $5.2M prior Q, $4.6M prior year (prepared).
Cash & equivalents $332.8M at June 30, 2025; Q2 operating cash flow $50.5M (prepared).
Inventory $134.6M, higher than $129.9M prior Q, lower than $203.7M prior year; DSO 92 days (prepared).
Official Q3 2025 Guidance:
Revenue: decrease 12% to 17% sequentially (prepared)
Gross margin: around 30% (prepared)
Loss per diluted ADS: $0.20 to $0.40 (prepared); includes ~$7.2M immediate vesting of 2025 annual bonus (prepared)
Management Quotes:
“Despite these headwinds, we are pleased to report that our Q2 gross margin exceeded the guidance … while the gross revenue and profit came in within the projected range.” (prepared)
“Our automotive business, comprising DDIC, TDDI, Tcon, and OLED IC sales, remains the largest revenue contributor … representing approximately 50% of total revenue.” (prepared)
“Our growing pipeline, now exceeding 200 design wins, is poised to transition into mass production over the next few years.” (prepared)
“We expect continued growth in automotive TDDI and Tcon technologies … these technologies have been successfully designed into hundreds of projects worldwide, with approximately 1/3 already in mass production.” (Jordan)
“The WiseEye business is entering the phase of revenue growth after years of customer and application development, becoming one of our key growth drivers.” (Jordan)